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What is a reportable transaction on Form 5472?

Reportable transactions on Form 5472 explained: what counts for a foreign-owned LLC, which go in Part IV and which go in Part V.

Amel Ouchene, IRS PTIN holder and CPA Candidate. October 19, 2026, 2 min read

A reportable transaction is what triggers Form 5472: a transaction between the reporting corporation and a related party.

Two kinds for a foreign-owned LLC

  • Part IV, monetary transactions. Business flows between the LLC and you: fees for services, goods bought from your foreign company, loans. Lines 21 and 35 are limited to amounts "taken into account in determining the taxable income of the reporting corporation".
  • Part V, transactions specific to a foreign-owned U.S. DE. The instructions name amounts "paid or received in connection with the formation, dissolution, acquisition, and disposition of the entity, including contributions to, and distributions from, the entity". Capital you put in, money you take out, and LLC costs you paid personally go here, described on an attached statement.

What is not reportable

Sales to independent customers and payments to independent suppliers. Form 5472 only covers dealings with related parties.

An LLC with truly no reportable transaction in a year does not file Form 5472 for that year. In practice, the money used to form or fund the LLC is already a reportable transaction.

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Go further

24 min read

Form 5472 Line-by-Line Guide for Foreign-Owned US LLCs

Learn how to fill out Form 5472 and pro forma Form 1120 for your foreign-owned single-member US LLC. Line-by-line guide, worked example, fax and mailing rules.

Read the guide23 min read

Missed Form 5472 for Past Years? Step-by-Step Catch-Up Guide

Missed Form 5472 filings? Discover how to catch up on late Form 5472 filing, prepare pro forma Form 1120, submit reasonable cause, and handle IRS penalties.

Read the guide

This article is general information about US tax rules for foreign-owned LLCs, not advice for your specific situation. Rules change; check the date above and ask before you file.